Dynamic capabilities and international entrepreneurship: Towards a better understanding

The dynamic capabilities view (DCV) and international entrepreneurship perspective (IEP) are major, relatively recent advances in international business (IB), strategy, and entrepreneurship. Despite their different disciplinary backgrounds—DCV in evolutionary economics and the resource-based view and the IEP in entrepreneurship and marketing—they share many themes and ideas in common, which have only recently started being acknowledged. In this article, we explore the contribution of, and interrelationship between, the two approaches, their limitations and scope for further development. Key insights include that the DCV helps complement IEP in terms of its focus on value co-creation and the requisite reconfiguration of resources to help bring about value capture. In turn, IEP complements DCV in terms of its exploration of the nature of opportunities and the entrepreneurial capabilities to sense these, and in terms of providing supporting evidence about these capabilities.